Wilmington, Delaware, United States, April 18, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Rise in the integration of advanced electronic control units (ECUs) in in-vehicle electronics is a key trend expected to offer significant revenue opportunities for companies in the automotive embedded systems market.
Surge in usage of vehicle-infotainment systems is anticipated to bolster market evolution. The global automotive embedded systems market size was US$ 7.3 Bn in 2022 and is projected to increase at a CAGR of 6.3% from 2023 to 2031 and reach US$ 12.7 Bn by the end of 2031.
Manufacturers and OEMs in the global automotive embedded systems industry are collaboratively engaged in incorporating next-generation microprocessors for connected and autonomous vehicles. Rapid emergence of autonomous vehicle technology and advanced driver-assist systems is expected to accelerate market growth.
Surge in application of artificial intelligence (AI) in autonomous vehicle technology to improve the safety and comfort of passengers is poised to offer significant business opportunities to companies over the next few years.
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Market Snapshot:
| Report Coverage | Details | |
| Market Revenue | USD 7.3 Bn | |
| Estimated Value | USD 12.7 Bn | |
| Growth Rate CAGR | 6.3% | |
| Forecast Period | 2023–2031 | |
| No. of Pages | 260 Pages | |
| Market Segmentation | Vehicle Type, Component, Type, Propulsion, Application | |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, South America | |
| Companies Covered | Robert Bosch GmbH, DENSO Corporation, Panasonic Corporation, Texas Instruments, Mitsubishi Electric Corporation, Continental AG, Infineon Technologies, NXP Semiconductors, Johnson Electric, HARMAN International, BorgWarner Inc., Hella GmbH & Co. KgaA, Toshiba Corporation, ZF Friedrichshafen AG, STMicroelectronics, IBM Corporation, Fujitsu, VIA Technologies Inc., Intel Corporation, Microchip Technology Inc., Others | |
Key Findings of Study
- Rise in Usage of Embedded Systems in Safety Systems: Rise in usage of embedded systems to enhance safety is a key trend that is projected to accelerate market expansion. Adaptive cruise control, drive-by-wire, airbag control unit, night vision systems, and blind-spot monitoring system are some of the advanced driver assistance systems (ADAS) that have enhanced driving experience and improved passenger safety.
- Based on application, the safety systems segment accounted for significant share in 2022. Rise in focus on vehicle safety is likely to propel the segment from 2023 to 2031.
- Surge in Adoption of Automotive Embedded Systems in Passenger Vehicles: Based on vehicle type, passenger vehicle is a lucrative segment of the automotive embedded systems market. Rapid increase in incorporation of ADAS in passenger vehicles is expected to fuel the segment.
- Rise in usage of microcontrollers and other electronics to improve safety and enhance performance of the vehicle, especially its fuel economy, is anticipated to bolster the usage of embedded systems in passenger vehicles.
- Recent market trends indicate considerable increase in focus of automotive manufacturers and OEM on adhering to automotive safety standards set forth by governments of several countries. They are implementing safety star rating of cars, which is likely to bolster adoption of ADAS features in passenger vehicles. This, in turn, is likely to augment the automotive embedded systems market size.
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Key Drivers
- Rise in focus on vehicle safety among original equipment manufacturers and automotive companies is expected to drive the adoption of embedded systems
- Surge in usage of in-vehicle electronics, especially in connected cars, is a key factor that is anticipated to augment the automotive embedded systems market. Increase in popularity of connected, autonomous, shared, electric (CASE) mobility is projected to offer new revenue streams to companies in the market.
Regional Growth Dynamics
- Asia Pacific is anticipated to account for the major share of the global automotive embedded systems industry from 2023 to 2031. Prominent presence of many automotive manufacturers in China, South Korea, Japan, and India and their continued focus on developing advanced driver assist systems is expected to propel the market during the forecast period.
- Increase in trend of adoption of connected vehicles and rise in implementation of advanced human-machine interface communication systems in passenger vehicles are estimated to bolster the market in the region.
- Rapid increase in trend of incorporation of safety features, such as ADAS features which include airbags, anti-lock braking system, adaptive cruise control, black box, automatic parking, telematics, and in-vehicle entertainment systems, is likely to augment the market size.
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Automotive Embedded Systems Market Segmentation
By Vehicle Type
- Passenger Vehicle
- Hatchback
- Sedan
- Utility Vehicle
- Light Commercial Vehicle
- Heavy Duty Truck
- Off-road Vehicle
- Agriculture Vehicle
- Industrial Vehicle
- Bus & Coach
By Component
- Sensors
- Microcontrollers
- ECUs
- Transreceivers
- Integrated Circuits
- Timers
- Others
By Type
- Embedded Hardware
- Embedded Software
By Propulsion
- IC Engine
- Electric
By Application
- Vehicle Tracking
- Parking Management
- Security & Access Control
- Safety Systems
- Adaptive Cruise Control
- Airbag System
- Traction Control System
- Anti-lock Braking System
- Others
- Powertrain & Chassis Control System
- Others
Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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